#CryptoCorner: France’s Central Bank Considering CBDC, US Treasury Secretary Mnuchin Says US Has No CBDC Plans, Microsoft (NasdaqGS: $MSFT) Teams with Enjin for “Azure Heroes”
Socios Partners with Juventus (OTC: $JVTSF) For Team Token
Point Roberts, WA, Delta BC December 6, 2019 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Stocks discussed: (NasdaqGS:FB) (NasdaqGS:MSFT) (OTC:JVTSF)
A recently-published speech from French central bank governor François Villeroy de Galhau, reveals that the Banque de France is considering the launch of a central bank digital currency (CBDC). Villeroy de Galhau explained that developments in the private sector for payments technologies provided the impetus for such a project:
“…we as central banks must and want to take up this call for innovation at a time when private initiatives especially payments between financial players and technologies are accelerating, and public and political demand is increasing. Other countries have paved the way; it is now up to us to play our part, both ambitiously and methodically.”
Specifically, Villeroy de Galhau indicated that a CBDC would give the Banque de France a sort of bulwark against initiatives like Facebook’s (NasdaqGS:FB) Libra project.
“…creating a CBDC would give us a powerful lever with which to assert our sovereignty in the face of private-sector initiatives such as Libra. This is also one of the concerns highlighted by the People’s Bank of China with its Digital Currency Electronic Payment (DCEP) project.”
Conversely, Bloomberg reports U.S. Treasury Secretary Steve Mnuchin explained at a House Financial Services Committee hearing in Washington that the U.S. had no plans to create a CBDC anytime soon.
“…in the near future, in the next five years, we see no need for the Fed to issue a digital currency.”
He went on to express tolerance to Facebook’s Libra, so long as it abides by the relevant regulations.
“I’m fine if Facebook wants to create a digital currency, but they need to be fully compliant. In no way can this be used for terrorist financing.”
Microsoft (NasdaqGS:MSFT) has partnered with blockchain gaming company Enjin to create the Azure Heroes awards program. According to the website, “Azure Heroes aims to reward individuals for verifiable acts of impact such as coaching, creating demos, building sample code, blogging about Azure or completing certain challenges.” Participants earn digital badgers for contributions they make to the community. In the wake of this announcement, the Enjin Coin (ENJ) has nearly doubled in trading price and market cap, according to data from CoinMarketCap.
CCN reports that blockchain company Socios has partnered with Turin, Italy-based football club Juventus (OTC:JVTSF) to launch a fan token $JUV. The project aims to encourage fan engagement, as the token allows “fans ‘voting rights’ on club decisions”.
Sam Mowers, Investorideas
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